Determination and payment of daily allowance
Entrepreneurs’ unemployment allowance is calculated based on your pension insurance level or an average of your pension insurance levels during the last 15 months prior to termination of your entrepreneurial activities. The insurance level selected in the fund may not exceed the annual income that your pension insurance is based on.
As provided for in the Unemployment Security Act, a maximum increase of 20 per cent can be observed within a 15-month period. If you decide to increase your insurance level over 20 per cent, you must maintain this increased level for at least 15 months to allow for any portion of the increase exceeding 20 per cent to be observed when determining your earnings-related unemployment allowance level.
If your insurance level in the Entrepreneur Fund has been higher than your pension insurance income, your daily allowance is calculated based on the pension income. If, however, your insurance level in the Entrepreneur Fund has been lower than the pension insurance income, your daily allowance will be determined based on your pension insurance income. Should your pension insurance income level and/or the income level you have reported to the Entrepreneur Fund have varied, unemployment allowance based on a monthly average of your income levels over the last 15 months prior to unemployment will be paid.
Use our calculators to see an estimate of your entrepreneur’s daily allowance or post protection allowance.